STOCKHOLM, Sweden, March 18, 2002 (PRIMEZONE) -- The Extraordinary General Meeting for Observer today approved the decision on a rights issue with preferential right for current shareholders. The rights issue is implemented in order to prepare Observer financially for a continued expansion.
The new share issue will be directed towards current shareholders and include no more than 11,137,144 shares (subject to such increase of the share capital and number of shares as may subsequently be effected as a consequence of subscriptions for shares through the exercise of warrants and conversion into shares of convertible debentures), at a nominal value of SEK 1.50 each, in summary with the following conditions:
-- Each five existing shares entitles to a subscription of one
new share
-- The subscription price is SEK 37 per share
-- The record date for participation in the rights issue is
March 26, 2002, consequently the last date for trading in
the Observer shares, including subscription rights is
March 21, 2002
-- Trading in subscription rights will take place during the
period April 3-16, 2002, inclusive
-- The subscription period is from April 3-19, 2002, inclusive
-- Prospectus and issue statement will be distributed to
Observer's shareholders in the beginning of April, 2002
This press release is also available online at www.observergroup.com
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